Reference no: EM132823319

Problem 1. Which of the following property interests does not qualify for a marital deduction from the deceased wife's adjusted gross estate?

A. A terminable interest trust that paid the husband all income annually for life. The executor elected to qualify the trust for the marital deduction on the wife's estate tax return.
B. The lifetime income interest the husband received from a testamentary trust with a power to invade the trust corpus.
C. Property the husband received through the state's elective share statute.
D. A vacation home the husband received from his wife that allows him to use the property for life. At his death, the property will pass to his wife's son from a previous marriage, as she directed.

Problem 2. Skip was married to Libby when he died three months ago. Which of the following property interests qualifies for the marital deduction in his estate?

A. The value of Skip's revocable trust that named Libby as the trust beneficiary after Skip's death.
B. Skip was the owner of a whole-life insurance policy on Libby's life. The life insurance policy named Libby as the contingent owner upon Skip's death.
C. A painting that Skip and his former wife, Olivia, purchased on their honeymoon that Skip bequeathed to Olivia.
D. Skip was the recipient of a life estate that his father gave him in the family cottage in Maine. The residuary clause in Skip's will left the rest and residue of his estate to his wife, Libby.